Videotaped wills are not a new concept. In fact, they have been around since the early 1980s. You may have even seen one featured in a show or movie, probably used for dramatic effect. Maybe the owner of the fortune cut someone out of the will at the last minute or made conditions through which an heir might receive their fortune. Are they really legally binding, though? More importantly, should you use one for your estate plan? The following explores this interesting and unique option, and provides some details on how to execute it properly, should you decide this is the right execution method for you.
Video Wills and Your Family
One of the biggest reasons that individuals decide to read their will on video is because they want to give their family one last memory. For some, it is a way to heal broken bonds. For others, it is a way to comfort from beyond the grave. Whatever your reason, ensure your intentions are pure. No matter how angry or irritated you might be with a member of your family, no matter how distant the two of you might have become, they will still likely grieve losing you. So be sensitive and kind. It will be their last memory of you.
Video Wills and the Law
Though a video will may give your family comfort after your death, it may not be considered legally binding on its own. Instead, it is likely that you will still need a written document that has been kept in a safe place. Of course, the video could still be used as evidence to prove that you were of sound mind at the time of creating the will, should any of your family members contest the will’s validity. Still, it is important that you speak with your estate planning attorney to determine what (if any) legal value a video will may lend to your family.
Contact Our Milwaukee Estate Planning Attorneys
Regardless of what your wishes are, it is important that you speak with an experienced attorney before drafting your will. This can ensure that local and federal laws are considered, that taxation issues are addressed, and that your plans are crafted using creative solutions to try and save your heirs both time and money. Most of all, the experience of a lawyer can help you avoid some of the most common estate planning pitfalls – some of which could significantly decrease the worth of your estate.
At the Law Office of Rollie R. Hanson, S.C., we understand just how important it is that your family and estate are protected once you are gone. We will strive to meet your needs and wishes to the best of our ability. Dedicated and experienced, our Milwaukee estate planning lawyers have your best interests in mind. Schedule a consultation to learn more about how we can assist you and your loved ones. Call 414-321-9733 today.